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BREAKING NEWS

BREAKING NEWS

Germany's Infineon close to acquiring Cypress Semiconductor - Bloomberg

Germany's Infineon close to acquiring Cypress Semiconductor - Bloomberg
FILE PHOTO: The logo of semiconductor manufacturer Infineon is seen at its Austrian headquarters in Villach, Austria, June 3, 2018. REUTERS/Lisi Niesner/File Photo -
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Lisi Niesner(Reuters)
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(Reuters) – German chipmaker Infineon Technologies AG is nearing a deal to buy Cypress Semiconductor Corp, valuing the U.S. chipmaker at almost $10 billion (7.90 billion pounds), Bloomberg reported on Sunday.

Infineon will pay between $23-$24 a share for Cypress Semiconductor, Bloomberg reported, citing two people familiar with the matter. 

The offer is at a premium of about 50% from when Bloomberg reported last week that Cypress Semiconductor was exploring options after receiving takeover interest.

Both Infineon and Cypress Semiconductor were not immediately available to comment.

(This story corrects syntax in headline)

(Reporting by Rishika Chatterjee in Bengaluru; Editing by Rashmi Aich)

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